Kuwait country is the country whose trend is the most expensive in the whole world. It is a world of rich people. Kuwait is a country situated in Asia. The capital of this country is Kuwait City.
Facts about kuwait
The official language of the country of Kuwait is Arabic. The population of this country is close to 30 lakhs. The first Vasahata was established in this country in the year 1613. The name of the currency of this country is Kuwaiti Dinar.
This Kuwaiti dinar is the most expensive currency in the whole world. Iraq invaded Kuwait in 1990. Iraq was occupied for seven consecutive months. But due to the direct invasion of America, Iraq had to withdraw from there.
Interesting facts about Kuwait Country
- The name of the country of Kuwait is derived from the Arabic word “Kut”. Which means “a fort by the lake”.
- No one lived in this country for long until the 18th century. People used to come to this country and leave after staying for a few days.
- Oil reserves were discovered in Kuwait in the year 1934.
- This country comes in the sixth place in the whole world in terms of mineral oil reserves.
- The currency dinar of this country is the most expensive in the whole world.
- This is the 15th tallest statue in the country named Al Hamra Tower.
- The economy of Kuwait is mostly driven by mineral oil.
- In the year 1990, Iraq invaded Kuwait and was occupied by it.
- Kuwait Investment Authority is the oldest sovereign wealth fund in the world.
- 60% of this country’s oil is exported to Asian countries.
Kuwait is a country in Western Asia. It is located on the Persian Gulf at the northern end of eastern Arabia, bordering Iraq to the north and Saudi Arabia to the south.
The coastal length of Kuwait is about 499 km. As of 2021, Kuwait has a population of 4.5 million people with 1.3 million Kuwaitis and 3.2 million foreign nationals.
Located in the north-eastern corner of the Arabian Peninsula, Kuwait is one of the smallest countries in the world in terms of land area. Kuwait is located between 28° and 31° N latitudes and 46° and 49° E longitudes. Kuwait is generally the lowest point, with the highest point being 306 meters above sea level.
what is the capital of kuwait?
Kuwait City is the capital and largest city of Kuwait. Located in the middle of the country on the Persian Gulf, it is the political, cultural and economic center of the emirate.
In which Kuwait’s Seef Palace is home to government offices, the headquarters of most Kuwaiti corporations and banks.
As of 2018, about 3 million residents in the metropolitan area lived here, more than 70% of the country’s population. All six governorates of the country comprise parts of the urban agglomeration, which is divided into several regions.
Kuwait City’s business and transportation needs are met by Kuwait International Airport, Mina Al-Shuwaik and Mina Al Ahmadi.
history of kuwait
Historically Kuwait was a highly strategic trading port between Mesopotamia and India. Commercial quantities of oil reserves were discovered in 1938. Crude oil was exported for the first time in 1946. From 1946 to 1982, large scale modernization took place in the country.
The 1980s experienced a period of political instability and economic crisis following the stock market crash. In 1990, Kuwait was invaded and later incorporated into the regime of Iraq by Saddam Hussein.
The Iraqi occupation of Kuwait ended in 1991 following military intervention by a military coalition led by the United States. Kuwait is a major ASEAN regional ally of China and a major non-NATO ally.
Economy of Kuwait
Kuwait is the fifth richest country in the world by gross national income per capita.
According to the Social Progress Index, Kuwait ranks first in social progress in the Arab world and second only to Israel in the Middle East.
Kuwait also ranks among the top countries in the world in terms of life expectancy, women’s workforce participation, global food security, school systems and security. Human rights abuses are common in Kuwait, with Kuwait having the highest number of foreigners in the entire region.
Kuwait is facing its worst economic crisis in decades.
Kuwait recorded the world’s highest deficit to GDP ratio in 2021.
To help diversify the economy, Kuwait has launched a National Development Plan. Kuwait Vision 2035 is launched. It has several important projects under the Belt and Road Initiative, including Al Mutla City and Mubarak Al Kabir Port near Kuwait and China.